Lithuania Industry


Industrial production falls to 22-month low in March

In March, industrial production contracted 12.9% over the same month last year. The steep decline, which followed the 2.4% drop recorded in February, represented the weakest result that has been recorded since May 2012. The contraction was driven by a massive drop in the electricity, gas and steam sector as well as a fall in manufacturing.

On a sequential basis, industrial production decreased 3.6% over the previous month in seasonally-adjusted terms, which contrasted the 2.5% increase registered in February. Annual average growth in industrial production tumbled from 2.2% in February to 0.3% in March.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 7.1% this year, which is down 0.7 percentage points over last month's estimate. The panel expects industrial production to increase 7.8% in 2015.

Author:, Economist

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Lithuania Industry Chart

Lithuania Industry March 2014

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Lithuania and FocusEconomics calculations.

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